Do not squeeze it into a space that you think is too hard to navigate comfortably but I think you have the appropriate size here. $40k also sounds very inexpensive and likely unpermitted so just be on the lookout for drive-by inspectors and make sure your contractors have proper workers comp. 

Yes, I want to make good investments and make money, but I also have a strong altruistic drive in providing safe, comfortable housing for women (and their children) in need. 

I want to do whatever will make this particular homeowner comfortable. 

What I did was buy a single family home in the worst neighborhood you would feel comfortable moving your wife and kids to within 15 minutes of your home.

The problem is I want to have a comfortable lifestyle and to travel.

Some that were built in the late 70s - early 80s had both large dining areas and living rooms, and one of those spaces could be converted to another bedroom with a strategically placed wall.

I like it and would be interested in continuing it in the dining room but can’t seem to find it anywhere?

I can comfortably put 10% down with at least another 10% in reserves for any updates or furnishings.

Assuming current interest rates my debt service would be around $87k/year (30 year, 7%)  which I am comfortable with.

This will be essential for managing remotely.Property Management: If you are unable to handle the property in person, think about working with a reputable property management firm.Decision: The decision you make is based on your degree of comfort, your ability to take on risk, and your readiness to put in the time necessary to develop a network.